I started off with a total debt of $25,500, BOA (aprox $19,000) and Visa (aprox $6,500). I began my "debt relief" journey 8 with Care One (an affiliate with Persels).in less than one year I paid Care One $7083. They paid out to my creditors $5773- leaving $1310 for their fee's etc. They then recommended that I transfer over to Persels and Associates, thats when I believe things began to become very unclear and very possibly fraudulant.
I started with P&A 5 and ended 4 in this 2 year period I paid them a grand total of $10,119.00 of which $5,918 went to my debt and $3,288 went to P&A. I believe if I continued on paying P&A $500/month they estimated that I have aprox 17 months left to pay off BOA's contract. Visa settled and I was able to pay off that card for over half of what I owed. I believe after contingency and monthly payments I saved under $1000 dollars off of my total debt. BOA settled for aprx 50% of what I owed somehwere in the ball park of $9500.00. I have never missed a monthly payment so I was suprized when I received an e-mail from P&A stating that BOA had cancelled my contract. When I called they stated that this was "normal" and to continue making payments to them and they will try to re-negotiate soon. It appears that they were taking out fairly large sums on money out of my trust for their contingency fees and my monthly payments to BOA were not being sent out. They told me frequently never to call my credit card company and it my jeopardize my chances for settlement. I called BOA to get the story payment info etc. They told me that they never cancelled my contract and that they had not received payments since Feb. They told me to take over payments and so I cancelled my account with P&A. When I called them to inquire why they told me my account was cancelled when in actuality it had not, all they would say was that they saw that my account was cancelled. So basically I believe they were trying to extend my business with P&A for profit.
So essentially between Care One and P&A I paid a grand total of $17,202 towards a debt of $25,500 (which to date my debt since 2009 has not been completed. I will be paying BOA $630.00 for the next year-total of $7500.00 (saving myself a qusetionable $300 from my total debt dating back from 2009). I completly believe I would have been better off both finacially, saved more time and less aggrivation if I decided to go to BOA internal settlements dept. From the beginning. BOA agreed that my debt would have been satisifed by now. If I continued to pay P&A and wait for resettlement who knows how much they would have collected in their bogus "contingency fees". I cannot believe these "lawyers" stay in business. I really regret the trust I placed in these sub-human opportunistic ass holes.
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